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    7900 South Essex Ave Chicago, IL 60617

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    For Sale
    $2,375,000

    36-unit property with retail in Chicago's South Shore neighborhood.

    Property size:
    123 SF

    Property Features for 7900 South Essex Ave

    General Information

    Size
    123 SF

    Source: Brian Mond Agent Brian Mond

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    South Shore Multifamily and Retail

    Located in the South Shore neighborhood of Chicago, 7900 South Essex Avenue features 36 units, including seventeen 1-bedroom, 1-bath units of approximately 700 square feet each, and fifteen 2-bedroom, 1-bath units of approximately 800 square feet each. The property also includes four retail units. Situated in the heart of South Shore, the property is near shops, cafes, restaurants, and grocery stores, such as Subway, Family Dollar, Joji Gyros, Krazy Kake House, Jamican Tropical Cuisine, and Walgreens. The location provides convenient access to transportation, including the Cheltenham/79th Metra stop, offering Metra line access to downtown. The I-90/94 highway is also easily accessible. The property is located three blocks from Eckersall Park and within walking distance of the lakefront. Each unit has individual heat and hot water, as well as central air conditioning. The property is currently 100% occupied.
    Location Intelligence

    Current Use by Public Records

    G.CAPPAA Musician MAGIC STAR RECORDS Music Management And Promotion

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.564117
    Latitude
    41.750794

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    FAQs

    What type of property is this?
    Apartment building - 36-unit property with retail in Chicago's South Shore neighborhood.
    Where is this apartment building located?
    The property is located at 7900 South Essex Ave Chicago, IL.
    What is the asking price?
    The asking price for this property is $2,375,000.
    What are key features of this property?
    This property features: - Excellent Transportation: Walking distance to Cheltenham/79th St. Metra stop provides a 30-minute commute to downtown, plus access to I-90/94.; - Strong Cash Flow Potential: Property is 100% occupied and offers the ability to raise rents.; - Attractive Unit Mix: Includes seventeen 1 Bed/1 Bath units, fifteen 2 Bed/1 Bath units, and multiple retail spaces.
    (312) 662-9590
    Request Owner's contact information
    7900 South Essex Ave Chicago, IL 60617
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    Chicago, IL 60617
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    7900 South Essex Ave Chicago, IL 60617
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